Agents Step Up for InsurPac

As the legislative year winds down, the cyclical world of politics dictates that the election season will soon escalate into full-swing.

Big “I” agents and brokers had a busy year in the nation’s capital and in statehouses across the country. In the spring, almost 1,000 agents came to Washington and met with their representatives in Congress to discuss the National Flood Insurance Program (NFIP), Medical Loss Ratio (MLR) issues and many other agent- and state-specific topics of concern that impact the livelihoods of Big “I” members and their clients.

Year round, the Big “I” Capitol Hill team works with decision-makers in Washington to advocate on behalf of independent agents. Big “I” federal lobbyists attend fundraisers virtually every day, carrying the independent agent banner and establishing relationships with legislators, their staff and other influential people.

Just as agents value their clients and work with them to develop relationships, the Big “I” Capitol Hill team works to maintain relationships with elected officials. While these relationships obviously don’t guarantee votes, they do provide opportunities to meet with key decision makers at the appropriate time and to provide the independent agent perspective. However, their clout on Capitol Hill would not be nearly as strong without InsurPac, the Big “I” federal political action committee (PAC).

As of press time, more than 3,000 independent insurance agents and brokers from across the country have come together so far this year to support InsurPac. Their contributions have totaled more than $650,000, a bit short of the $1 million pace InsurPac strives to achieve.

As of Sept. 20, 2011, a handful of states are leading the charge for InsurPac.

InsurPac represents the unified political voice of the association’s 23,000 member agencies and 300,000 agents and brokers nationwide. It is one of the largest insurance industry PACs in the country, and one of the main reasons the Big “I” is routinely rated among the most successful lobbying powerhouses in Washington, D.C. InsurPac collects voluntary, personal contributions and pools that money together to support the campaigns of members of the U.S. House of Representatives, senators and candidates for federal office.

InsurPac is credited with making the Big “I” one of the most well-respected business associations in Washington. In disbursing contributions, InsurPac does not look at party affiliation but supports representatives, senators and candidates for federal office who have been advocates and supportive of the independent agency system. The Big “I” and InsurPac distribute 100% of its voluntary agent contributions to federal campaigns and, as a result, have an impressive bipartisan track record in Congress and on the campaign trail.

Last year, InsurPac raised a total of $902,070.33 during the calendar year, making it the second largest fundraising year in InsurPac’s 35-year history.

For more information about InsurPac, contact Nathan Riedel (nathan.riedel@iiaba.net), Big “I” vice president of political affairs, at 202-863-7000.

Big “I” Opposes More Cuts to the Federal Crop Insurance Program
In President Barack Obama’s recently unveiled deficit reduction plan, the Federal Crop Insurance Program (FCIP) is once again in the crosshairs and slated for cuts totaling $8 billion over a 10-year period. This is on top of significant cuts already made to the FCIP via the 2008 Farm Bill and the 2011 Standard Reinsurance Agreement (SRA) to the tune of $10 billion over four years. The Big “I,” many members of Congress and several other industry groups are arguing that the crop insurance program has already been slashed enough in the name of deficit reduction. Before the program is further decimated, it needs time to readjust to the recent huge cuts and changes to both the policy and implementation of the crop program.

The administration’s ill-conceived plan in the name of “streamlining and modernizing” the FCIP makes deep cuts to subsidies for crop insurance which subsequently raises the premium price for farmers. Many farmers and their independent insurance agents have consistently stressed that ensuring a strong safety net is vital to the future of the nation’s farming communities. The Big “I” and many other organizations that support American agriculture find it counterintuitive to continuously chip away at a program that has worked so well for farmers and ranchers for many years.

With more than 18,000 crop agents across the country aiding farmers in making informed decisions about their livelihood, any additional cuts to the FCIP will drastically alter the efficient and effective safety net that has helped production agriculture prosper.

—M.T.